Chase has released a new study highlighting the financial stressors on small businesses resulting from COVID-19. Despite this, more and more companies are looking to resume travel during 2022. Here are the full findings of Chase’s recent Chase Ink Small Business Spending Survey:
Study: Businesses Expect to Ramp Up Travel Despite Omicron Variant
The coronavirus pandemic has had a significant impact on businesses. The last two years have prompted companies to closely examine their expenses, which also means maximizing their rewards when choosing to spend.
Despite the recent surge in cases across the country, most business owners say they plan to re-engage in travel in the new year. And using a business credit card to manage daily expenses could help offset some of those costs.
Chase Ink Small Business Spending Survey Findings
Chase Ink recently launched a survey of more than 1,000 small business owners to understand how small businesses identify priorities and expectations for the year ahead. Key findings include:
- 72% of small business owners use a business rewards credit card to pay for all or part of business expenses, with 77% using a cash back credit card
- 65% of small business owners use their business credit card to earn rewards on business expenses so they can redeem for cash back or travel
- More than half (59%) of small business owners say using their business credit card was essential for managing their expenses in 2021
- 55% of small business owners say they are likely to take a business trip in 2022
You can view other findings from Chase Ink’s study in the following infographic:
About Chase Ink
Chase currently issues three Ink small business credit cards, all offering competitive rewards and lucrative welcome offers. The Chase Ink Business Preferred® is the bank’s small business travel card, offering up to 3X points on travel, shipping, search engine and social media advertising, and select utilities (Internet, cable, and phone services). The card also comes with 100,000 bonus points after companies spend $15,000 on purchases in the first three months after account opening – for a $95 annual fee.
Other Chase Ink business credit cards include:
All Chase Ink credit cards come with additional employee cards at no extra cost, meaning there has never been a better time to consider a new business credit card for firms planning to travel, invest in software, advertising, or other projects, and seeking to issue multiple employee cards to maximize savings.
Related Article: Chase Launches 5% Back on Gas for New Freedom Members
Featured image by JoshuaWoroniecki /PixaBay
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